Each mortgage banker must retain records of all of its completed mortgage transactions for a period of at least four years after the date of the last activity relating to the transaction. Unless otherwise stated, after a record has been retained one year or longer, the mortgage broker may cause the original record to be reproduced by the microphotographic process, optical disc imaging, or any other equivalent technique designed to ensure an accurate reproduction of the original record.
Each mortgage banker must retain applications for mortgages that were denied or withdrawn for a period of at least one year or as otherwise required by federal law.
Each mortgage banker must keep and maintain at all times at each location where the mortgage banker conducts business in this State complete and suitable records of all mortgage transactions made by the mortgage banker at that location. Each mortgage banker must also keep and maintain at all times at each location all original books, papers and data, or copies thereof; clearly reflecting the financial condition of the business of the mortgage banker.
“Complete and suitable records” is defined in NAC 645E.355
; NAC 645E.355
; NAC 645E.360